Duff & Phelps Investment Management Co. Decreases Stake in AT&T Inc. (NYSE:T)

Duff & Phelps Investment Management Co. decreased its holdings in AT&T Inc. (NYSE:T) by 2.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,095,812 shares of the technology company’s stock after selling 66,085 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in AT&T were worth $59,161,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Octavia Wealth Advisors LLC raised its position in shares of AT&T by 2.1% in the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock valued at $484,000 after purchasing an additional 519 shares during the period. Carolinas Wealth Consulting LLC raised its holdings in AT&T by 2.3% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock worth $452,000 after acquiring an additional 521 shares during the period. WealthCare Investment Partners LLC lifted its position in AT&T by 2.2% during the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after acquiring an additional 525 shares during the last quarter. Integral Investment Advisors Inc. lifted its position in AT&T by 3.2% during the 2nd quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock worth $322,000 after acquiring an additional 538 shares during the last quarter. Finally, Financial Counselors Inc. boosted its holdings in AT&T by 0.6% during the second quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock valued at $1,767,000 after acquiring an additional 539 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

Shares of AT&T stock opened at $21.90 on Friday. The stock has a market capitalization of $157.03 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 3.68 and a beta of 0.59. The firm’s 50-day moving average price is $20.15 and its two-hundred day moving average price is $18.50. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $22.34.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the company earned $0.63 EPS. On average, equities analysts predict that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on T shares. Oppenheimer upped their price target on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. increased their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Finally, Royal Bank of Canada upped their price target on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $22.38.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.